This can happen for a couple of reasons.

In some cases, your monthly repayment will be factored into your settlement quote. If you check your quote, you’ll see a breakdown of the amount you need to pay to settle your loan, plus the fact your next monthly payment will be taken before your loan is fully settled.

However, due to the time it takes for Direct Debits to complete, there are some instances where your repayment may already have started processing when you settle your loan. If this happens, you’ll automatically be refunded for the repayment amount, so there’s nothing you need to do. But please note, it can take up to ten days for the money to reach your account.

Free impartial financial advice is on hand

We’re not able to provide debt advice, but there are others who can. Organisations, such as PayPlan, give free, impartial and confidential advice and contacting them won’t impact your credit score.


0800 280 2816

Monday to Friday 8am-8pm or Saturday 9am-3pm.

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